Today’s session – the first of March – was a two-sided and highly volatile one on the Greek stock market, with sellers taking the reins after 12 noon due to the sell-off taking place in international markets. However, Athens managed to stand its ground compared to the intensity of liquidation abroad.

The range in which the General Index moved was fixed at almost 27 points, an indication of the nervousness prevailing in the stock markets in general. The energy sector was the negative protagonist, with PPC and Motor Oil under the strongest pressure.

Specifically, in Tuesday’s (4/3) session, the GC fell by 5.64 points or -0.35 % to close at 1,602.15 points, with the high of the day at 1,619.08 points and the low of the day at 1,592.19 points. The restructuring of MSCI indices that took place last Friday also led to a large increase in trading today, with turnover exceeding 230 million euros.

Tariffs and results on the agenda

The focus is on political developments at home, as the opposition is expected to table a no-confidence motion. A debate also began today in parliament to set up a committee of inquiry into political responsibility for the accident in Tempe.

The mood abroad is negative as investors assess the impact of new US tariffs on Canada, Mexico, and China, with the latter responding with 15% tariffs on US goods. At the same time, Donald Trump ordered a halt to military aid to Ukraine, days after an incidental meeting with Volodymyr Zelensky.

Although mainstream banks and several large-cap listed companies have published their fiscal 2024 financials, announcements continue. In the current week, ElvalHalcor, Bank of Greece (Tuesday, March 4), Cenergy Holdings (Wednesday, March 5), Optima bank (Thursday, March 6,) and Trastor SA (Friday, March 7) are next in line. At the same time, DBRS will announce its verdict on Greek sovereign debt, which it currently rates at “BBB (Low)” and positive outlook (trend), opening the curtain on the ratings for this year.

Seller’s premium on major foreign bourses

Sell-off conditions prevailed on Wall Street on Monday in the context of Trump’s triggering of tariffs against China, Mexico, and Canada. In addition, the US president announced the imposition of retaliatory tariffs on foreign products from April 2. The major indices remain in a bout of volatility today, with the Dow Jones down 1.5% and the Nasdaq down 1.9%.

March started on the right foot for European stock markets, thanks to the “party” of defense stocks. The Stoxx 600 (563 points) set a new all-time high. At the same time, the German DAX broke the “barrier” of 23,000 points for the first time. The reverse was true today, with the Stoxx sliding -2.1% and the DAX moving lower by -3.4%. Traders are focusing on next Thursday’s ECB interest rate meeting, where a new 25 basis point cut is expected.

Asian markets were a mixed bag. Japan’s Nikkei recorded losses of more than 500 points, or 1.3%, while Chinese indices were in mildly bullish territory.